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Overall, the trend remains favourable for bulls, despite the likelihood of intermittent consolidation. Below are some short-term trading ideas to consider.
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The market is expected to remain directionless in the upcoming sessions. Below are some short-term trading ideas to consider.
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The market is expected to remain in positive territory amid consolidation. Below are some trading ideas for the near term.
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The market trend is expected to remain positive amid consolidation. Below are some trading ideas for the near term.
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The Nifty is anticipated to find long-term support at 21,700 followed by 21,600 levels.
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After the MPC outcome, the benchmark indices saw a rush to book profits, that drove the BSE Sensex down 493 points to 71,659, and the Nifty 50 down 137 points to 21,793, forming a bearish candlestick pattern on the daily charts
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Indian Hotels has been in a strong uptrend, reporting higher highs, higher lows formation since October last year. The stock formed strong bullish candlestick pattern on the daily charts with above average volumes.
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Jindal Steel & Power formed strong bullish candlestick pattern on the daily timeframe with healthy volumes. The stock remained above all key moving averages which is a positive sign.
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Apollo Tyres surpassed its previous record high (touched in August this year) and hit a new high of Rs 445.80 intraday on last Friday after decisively breakout of falling resistance trendline.
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Triveni Engineering & Industries has seen a strong gap up opening and formed bullish candlestick pattern with long upper shadow on the daily charts. It has seen smart breakout of consolidation range since December 2022, and closed more than 4 percent higher at Rs 317.
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The market seems to have reacted to the MPC move as the benchmark indices rallied sharply in the previous session to hit the highest level of current calendar year. Today, the Nifty and Sensex turned volatile
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Can Fin Homes has recently seen some buying traction and emerged above the sloping trendline on the daily time frame, adding to the bullish quotient
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In the near term, the index is expected to take support at 17,600, which has been holding quite well on every closing in the past six consecutive sessions, with resistance at the 18,000-18,250 zone
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The selling can be extended in the coming sessions with support at 18,100-18,000 levels, however, on the higher side, the index may face hurdles at 18,500-18,700 levels if it holds these supports
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Ujjivan Financial Services jumped more than 6 percent to close at more than one year high of Rs 196 and formed a robust bullish candlestick pattern with large volumes, while Tejas Networks was up more than 6 percent to Rs 525 and formed a strong bullish candlestick pattern on daily charts with robust volumes.
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Once the dust settles, markets are expected to hit new highs, as many of the signals are positive
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Nifty has got strong resistance at 17,300 odd levels, which happens to be 61.8 percent of the entire fall seen from 18,604 (all-time high registered in October 2021) to 15,183 (major swing low registered in June 2022).
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Malay Thakkar of GEPL Capital advises traders and investors to also continue holding NLC India for an upside towards Rs 97 followed by Rs 102
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Moneycontrol has collated a list of rate-sensitive stocks that may be a good buy at current levels or on dips from a 2-3 weeks' perspective. Returns are calculated based on April 7 closing price.
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Investors should focus on the domestic economy-facing sectors like capital goods, infrastructure, real estate and banking. In the near term, they are betting on metals, IT and pharma
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RBI Monetary Policy | Governor Shaktikanta Das said continued policy support is warranted for a durable and broad-based recovery and efforts will be made to limit disruptions to economic activity
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Hot Stocks | Santosh Meena of Swastika Investmart feels Brigade Enterprises, Can Fin Homes, and JB Chemicals can give double-digit returns in short term
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The biggest beneficiaries would be the infrastructure segment, capital goods, real estate, railways, power, fintech, agriculture, defence and banks, say experts. One of them said the Budget will be negative for the entire PSU and PSU bank space since there were no major announcements on divestments.
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Here's what Jayesh Bhanushali of IIFL Securities recommends investors should do with these stocks when the market resumes trading today
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Traders are advised to hold long positions with trailing stop loss. At present, stop loss for Nifty should be kept at 18,200. Nifty is expected to extend the rally towards 19,230, said Vinay Rajani of HDFC securities
